Nobody downloaded yet

Business Management Affairs - Coursework Example

Comments (1) Cite this document
The following paper will have a specific focus on the pros and corns of Sole Trading, Partnership, and Company Operations, illustrates the relevant aspects of beginning a business. Business is the best area for an individual to demonstrate his/her potential as it promises unlimited opportunities and rewarding challenges…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.4% of users find it useful
Business Management Affairs
Read TextPreview

Extract of sample
"Business Management Affairs"

Download file to see previous pages Sole Trading
When a person individually initiates and operates his/her own business, it is called sole trading. The most obvious feature of sole proprietorship is that there is no legal distinction between the business and the owner. Usually, a sole trader uses a trade name or business name instead of his legal name. Under UK company law, the proprietors’ name must be shown on business emails, business stationery, and other business premises. It generally involves lower amount toward capital investment as compared to other modes of business ventures. It is best fitted to people with innovative business ideas and sufficient capital for running their business. The main benefit of this system is that the businessman owns everything what he acquires from the business. Moreover, with the feasibility of self guidance, the individual can grow without restrictions. In addition to this, as Tonkin (2006) states, sole trader can start the business with minimum set up cost and can continue operations without a tax file number. He is also exempted from many other legal charges and superannuation. Since the sole trading business specifically focuses on certain market segments, the sole trader can effectively satisfy the customer needs. In addition, the individual can take advantages of personal relationships for the business promotion.
On the other hand, sole trader is not free from risks as he is the only person responsible for any loss incurred in the business. Therefore, if the sole trader faces business loss; his every asset including personal asset may be seized to discharge the liabilities he has incurred. This personal liability becomes the most threatening disadvantage of sole proprietorship. A series of legal obligations may also drag him out of the line; sometimes he needs to pay provisional taxes. Similarly, sole trader may face difficulties in the event of an unforeseen contingency since he has only restricted access to financial sources. The lack of access to financial sources also becomes a barrier for the sole trader to recruit high-caliber employees. Another major disadvantage of sole proprietorship is that it cannot allow credit sales since this type of business has limited access to working capital; this situation is an impediment to business expansion. A positive spell of possible success is found in the given discussion. As Matt is the winner of the TV show “You’re Hired”, he may have creative concepts as well as sufficient capital to start his business as a sole trader. Partnership When two or more persons join together with their capital and make contract to run a lawful business, it is called partnership business. This system ensures collective responsibility for all liabilities arising on the ground of the partnership business. As it is in the case of sole trader, registration of partnership is not necessary. This feature helps the partners in minimizing the struggles of legal formalities. All the strategies of partnership firms are formulated on shared opinion of partners which would make the policies rather balanced in their nature. At the same time, any partner may represent the business without giving prior information to other partners; therefore, one partner’ ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Business Management Affairs Coursework Example | Topics and Well Written Essays - 1750 words”, n.d.)
Retrieved de https://studentshare.org/business/1390633-business-management-affairs
(Business Management Affairs Coursework Example | Topics and Well Written Essays - 1750 Words)
“Business Management Affairs Coursework Example | Topics and Well Written Essays - 1750 Words”, n.d. https://studentshare.org/business/1390633-business-management-affairs.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
thadruecker added comment 4 months ago
Student rated this paper as
This coursework was always my weak point. I could never complete it well. Still, after I found this particular paper, I understood how it should be done. So, I performed my research afterward and completed the coursework in several hours, instead of weeks as it was previously.
Business Management Affairs
The laws governing these contracts, however, vary within individual countries. In the international business arena, the application of the contract law becomes profoundly inherent in governing the contracts within different countries. Being an international project, the venture being undertaken by Simons crosscuts is across contract laws of different nations.
6 Pages(1500 words)Coursework
Business Management Affairs (TORT)
Simon further approached Gary, a judge in the same show, to invest in the business in order to open an overseas office that will help the company to expand in the international market. Gary did not deny the proposal, however, made it specific that he will be financially liable to the amount he invests initially.
4 Pages(1000 words)Assignment
Business Process Management at Pizza Hut
A lot many of us may know what Pizza Hut is and what it offers in the market, but a very few may understand how it operates in the market place and what distinguishes it from the rest of the competition. This report is aimed at providing a detailed account and analysis of business operations management at Pizza Hut.
8 Pages(2000 words)Coursework
Business Management Affairs
The options in the given scenario include trading as a sole trader, in partnership relationship or forming a company. Sole proprietorship is one of the popular types of business around the globe. It is a type of business whereby, business if controlled managed and run by a single person who is the owner of the resources and investments in the business.
7 Pages(1750 words)Coursework
Business Management Affairs
Contract law in general aims at providing stability and predictability for both parties to a contract (Dunham, 2008). During the pre-negotiation of a contract, effective planning is very important in
9 Pages(2250 words)Essay
Business Management Affairs
on to do something which a reasonable man, guided upon those considerations which ordinarily regulate the conduct of human affairs, would do, or doing something which a prudent and reasonable man would not do,” It is a breach of legal duty which causes damage that was not
4 Pages(1000 words)Coursework
Business Arrangements & Global Business Law
The author gives recommendations all the partners to be agreed upon the terms of the partnership so that any future confusion or disagreement can be avoided. It is important to be kept in mind that it would be the state of defaulting law if there is no properly written partnership document is available.
9 Pages(2250 words)Coursework
Business ethic
Moreover, it is applicable to the conduct of each and every individual in the organization, as well as the entire organization at large. However, more often than not, research and practice of business ethics
8 Pages(2000 words)Coursework
Unit 2 - Business Resources, Unit 20 - Managing Physical Resources in a Business Environment, Unit 16 - Human Resources management in Business
The current paper considers Virgin Atlantic airlines one of the most reputed airlines of the world and carries a discussion on several aspects of a company like, recruitment documentation, required
40 Pages(10000 words)Coursework
Business and Project Management
In the present scenario, due to the stagnating condition of the market and deteriorating demand of its manufactured automobile products, the brand has intended to introduce a new
8 Pages(2000 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Coursework on topic Business Management Affairs for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us